EGAS agrees to purchase gas from Eni’s Faramid at $2.6/MMBtu
The Egyptian Natural Gas Holding Company (EGAS) reportedly agreed to purchase natural gas produced from Eni’s Faramid South asset at USD 2.6/MMBtu, sources from EGAS said. The well, which is in Eni’s East Obayed concession in the Western Desert, has been closed pending Eni reaching an agreement with Royal Dutch Shell over the terms of […]
Egypt, Höegh LNG rework FSRU Gallant contract
Höegh, EGAS rework FSRU Höegh Gallant deal. Höegh LNG said it has decided to amend the Höegh Gallant FSRU time charter with Egypt Natural Gas Holdings Company (EGAS). Under the amended contract, the Höegh Gallant will be chartered as an LNG carrier to a third party, and EGAS will compensate for the rate difference between […]
EGAS announces extension of closing date for 2018 Bid Round
The Egyptian Natural Gas Holding Company (EGAS) announces the Change of the closing date of its 2018 International Bid Round for 16 blocks. The closing date is extended from Monday 8th of October, 2018 to Thursday 29th of November, 2018. (Source: EGAS)
Egypt awards six LNG cargoes to Swiss traders via competitive tender
Egyptian Natural Gas Holding Co. (EGAS) has awarded six of the nine LNG cargoes it has put out to tender to Swiss traders Trafigura, Vitol, and Gunvor, Reuters reported on Wednesday. Trafigura will supply three cargoes, while Gunvor will provide two and Vitol one, with the shipments all likely to be priced above $11/MMBtu. Egypt […]
Eni completes sale of 10% stake in Shorouk concession to Mubadala Petroleum
Eni has finalized a 10% stake sale in the Shorouk concession to Mubadala Petroleum, a wholly-owned subsidiary of Mubadala Investment Company. The Shorouk concession is offshore Egypt, where the supergiant Zohr gas field is located. Eni, through its subsidiary IEOC, now holds a 50% stake of the Contractor’s Share, while Rosneft holds 30%, BP 10% […]
Egypt buys initial LNG volumes through a 9 cargo tender – trade sources
** Egyptian Natural Gas Holding has likely purchased a portion of the nine liquefied natural gas (LNG) cargoes it sought via a tender for delivery between July and August, trade sources said. ** Estimated prices for the cargoes range upward of $11 per million British thermal units (mmBtu), or around 15 percent of a barrel […]
EGAS offers 16 Mediterranean & Nile Delta blocks in oil & gas bid round
The Egyptian Natural Gas Holding Company (EGAS) launched the 2018 bid round for oil & gas exploration on 16 concession areas: 13 blocks in the Mediterranean Sea and three concessions in the onshore Nile Delta region. The Egyptian Ministry of Petroleum announced in an Al Ahram newspaper advertisement that the deadline for receiving bids for […]
Egypt to offer 27 concessions in 2 bid rounds for oil & gas exploration
Egypt will launch two international bid rounds for oil and gas exploration in 2018, the petroleum ministry said in a statement on Monday. One bid round will cover 16 concession areas, mostly in the Mediterranean Sea, under state buyer EGAS, in its largest ever bid round. The other auction will cover 11 concession areas under […]
Eni ramps up Zohr gas output with start-up of second production unit
Zohr Ramp-Up: Eni start-up the second production unit. The latest achievement reinforces the exceptional development path of Zohr, one of Eni’s seven record-breaking projects, which is playing a fundamental role in supporting Egypt’s wish to cease LNG imports in 2018. After a record start-up in less than two and a half years from discovery, production […]
EGAS, Snam sign MoU for natural gas infrastructure
The Egyptian Natural Gas Holding Co. (EGAS) signed on Monday a memorandum of understanding with Italy’s Snam – a leading gas utility in Europe – to cooperate in the field of comprehensive management of natural gas infrastructure. The memo was inked on the fringe of the EU-Egypt Sustainable Energy Business Forum which was launched in […]
